Unemployment holds steady at 4.1% well below the 100 year average.

The average annual unemployment rate over the latest roughly 100 years—approximately 1926–2025—was about 6%, likely around 6.1%–6.3% depending on the precise dataset used in the calculation.

Economists consider unemployment below 5% to be “Full employment.” This means the economy has no cyclical unemployment as some people are still technically unemployed under the definition because they are changing jobs, entering the workforce, or have skills or locations that don’t immediately match available jobs. That remaining unemployment is called the natural rate of unemployment or, in some contexts, the NAIRU.

An unemployment below 4% is possible but is considered inflationary because it may produce stronger wage and price pressures. So the current rate of 4.1% is considered to be a sweet spot.


https://www.financialexpress.com/world-news/us-news/us-jobs-expected-to-rebound-to-55000-in-august-but-warsh-says-labor-market-is-already-at-full-employment/4328243/?ref=ReadNext_article_3